This week we thought we’d clarify more about the differences between Outsource Service providers and their poor cousin, the Offshore service providers. Those who understand Compliance work, create Outsourcing companies Those that can’t, create offshore companies The Outsource services providers, such as Odyssey, are usually owned and operated by Australian accountants. The better firms are operated by Australian accountants who …

I received a message from an Australian accountant the other day. The message went something like this: Hi David, Just some feedback from my Partner in business (an old school hardworking now moving to retiring not the easiest lady to impress). You made it easy the questions that came back were of calibre and clearly indicated that you had certainly …

We thought this week we’d start off with a great Getty image of an accountant at a beach. Then as the dream of the beach disappears (sorry) we thought we’d recount a recent conversation we had with an Australian accountant. This accountant was a principal of a firm in Perth. He was a part owner, with other major owners being …

As many Australian accountants come to considering when to sell up their main asset of their working life, their accounting practice, it’s interesting to see how people start to consider readying their practice for sale. As Odyssey has been providing outsourcing services to Australian accountants for over a decade, we’ve seen a few accountants sell up their practice or consider …

In December 2015 the CommBank released their regular Accounting market pulse. As one managing partner commented: Accountants need to think differently going forward if they are to maintain revenue and margin. The trend to outsource and/offshore compliance based or shared services to lower cost providers continues. In terms of outsourcing, 100% of large firms will increase their outsourcing over the …

Constant pressure on the bottom line and a desire to do more with less have resulted in a number of SMSF businesses investigating offshoring opportunities as a viable way to cut costs, improve efficiency and increase their profit margins. Odyssey Resources which started a decade ago and is the largest offshore services provider to Australia, now has around 250 staff …

In December 2015 the CA’s future[inc] released a report on the future of offshoring. Globalisation, technology, reduction in barriers to services trade and pressure on fees have impacted outsourcing and offshoring. Labour is no longer tethered to fixed capital and tasks can now easily be outsourced offshore or even automated via the cloud. With the demographic tide turning, Australia will …